Arm Stock Gaps Higher After Unveiling First In-House Chip

The company projected the new chip to generate $15 billion in revenue by 2031Arm Holdings PLC (NASDAQ:ARM) stock is 15.8% higher at $156.36 at last glance, after the company unveiled its first in-house chip, projected to generate $15 billion in revenue by 2031. Raymond James upgraded ARM to "outperform" from "market perform" in response, while two other analysts hiked their price targets as well.Analysts leaned bullish coming into today, though nine of the 30 in question still carry a "hold" or worse rating ...